August 20, 2009
Obama Invests in Offshore Drilling...
...in Brazil!
That's right, Brazil is in the news again.
I am scratching my head with this. From anything I can determine, the US is strapped for cash. Yet here is a huge loan to Brazil to drill in the Tupi oil fields.
Also...I can tell you from here in Brazil, Petrobras is doing just fine. Why is the US investing in a competitor to US oil companies.
One more thing: where is the principled opposition to offshore drilling? Apparently it is OK to drill off Brazil's beautiful beaches, but not in the Gulf of Mexico.
Final note: Interesting Soros connection at the bottom of the article. Seriously, why is nobody investigating this guy?
That's right, Brazil is in the news again.
I am scratching my head with this. From anything I can determine, the US is strapped for cash. Yet here is a huge loan to Brazil to drill in the Tupi oil fields.
Also...I can tell you from here in Brazil, Petrobras is doing just fine. Why is the US investing in a competitor to US oil companies.
One more thing: where is the principled opposition to offshore drilling? Apparently it is OK to drill off Brazil's beautiful beaches, but not in the Gulf of Mexico.
Final note: Interesting Soros connection at the bottom of the article. Seriously, why is nobody investigating this guy?
The U.S. is going to lend billions of dollars to Brazil’s state-owned oil company, Petrobras, to finance exploration of the huge offshore discovery in Brazil’s Tupi oil field in the Santos Basin near Rio de Janeiro. this corporate foreign aid may strike some readers as odd, given that the U.S. Treasury seems desperate for cash and Petrobras is one of the largest corporations in the Americas. … But it still doesn’t allow the U.S. to explore in Alaska or along the East and West Coasts, which could be our equivalent of the Tupi oil fields, which are set to make Brazil a leading oil exporter. Americans are right to wonder why Mr. Obama is underwriting in Brazil what he won’t allow at home.
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Posted by Andrew on August 20, 2009 9:13 AM.
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